"Of course," Kyle smiled slightly.
Accepting an interview with Bloomberg News, the World's largest financial news outlet, what reason did Kyle have to refuse?
"Mr. Page, according to our information, since the beginning of this month, Gale Capital Company, which you control, has begun to sell off NASDAQ internet and technology stocks one after another, totaling as much as $2 billion. Is this true?" Female Reporter Mottafi inquired.
Kyle laughed: "It's true!"
Hearing this, Female Reporter Mottafi was immediately stunned.
The photographers and copywriters who came with her were also shocked.
Even though they had gathered a lot of information before interviewing Kyle, they couldn't help but be shocked the moment they heard it from his own mouth.
Man, after all, this wasn't $100 million or $200 million, but a full $2 billion!
If you converted this $2 billion into cash, it would be enough to bury a person alive.
According to the international gold price of $280 per ounce in early 2000, $2 billion was enough to exchange for 7.14 million ounces of gold, which is 202 tons of gold.
It was truly jaw-dropping!
Female Reporter Mottafi suppressed her excitement and asked again: "Mr. Page, according to information from Bloomberg News, after selling $2 billion worth of stocks, Gale Capital still holds $3.2 billion worth of stocks in the NASDAQ. Will you be selling those off in the near future as well?"
Kyle immediately said: "First, I'd like to correct you. Your information must be from several days ago. With the continuous stream of favorable news from the NASDAQ recently, those remaining $3.2 billion worth of stocks are now worth $3.3 billion!"
Female Reporter Mottafi: "..."
She was so frustrated she wanted to throw her recording pen.
Is now the time to nitpick over one or two hundred million dollars?
After teasing her, Kyle continued: "Just as you guessed, the NASDAQ stocks held by Gale Capital will be completely sold off in the coming period. As for how long that will take, I'm afraid I can't tell you; that's a trade secret."
A trade secret?
Female Reporter Mottafi was still quite satisfied.
With just a few simple interview questions, she had already learned that Gale Capital would sell off all its NASDAQ internet and technology stocks.
Kyle added: "In May 1998, I saw an article about the 'Dot-com Bubble' and 'internet false prosperity' written by Mr. Efis Soke, an economics Professor at Harvard University, in the New York Times."
"I know that."
Hearing this, Female Reporter Mottafi chimed in: "Our Bloomberg News also reprinted that article back then. Professor Efis Soke said: The internet is the future, not the present."
"He believes that current internet companies and technology companies with pan-internet concepts have inflated market values that do not match their profitability at all. Once a tipping point is reached, it is highly likely to trigger a stock market avalanche."
As she finished speaking, Kyle silently gave Female Reporter Mottafi a thumbs up.
To be one of Bloomberg News' top reporters, her ability and erudition were indeed not exaggerated. Since she knew, it saved Kyle from having to explain.
Kyle continued: "In 1999, many economics and finance experts like Mito, Heranton, and Kimirtas said in public media like newspapers, TV, and radio that the false prosperity of the internet would cause a stock market disaster. Every time I read them, I felt a lingering fear~"
Lingering fear?
In fact, as early as 1995, there were many insightful experts in America who published forward-looking analysis articles about the 'Dot-com Bubble'.
But... with the rise of a large number of internet myths like Cisco, Yahoo, Amazon, Netscape, and America Online, these articles about the 'Dot-com Bubble' became seen as dross, and many people turned up their noses at them.
Internet and technology companies listed on the NASDAQ also, in just a few short years,
popped up like bamboo shoots after a spring rain.
Enormous profits drove everyone into a frenzy.
Even though many experts subsequently published internet analysis reports on 'collapse,' 'falsehood,' 'avalanche,' and 'disaster,' they failed to attract much attention.
Many established energy companies even declared: "We've been selling oil for decades, yet the profits generated can't even compare to an internet company founded less than three years ago!"
Is it tragic?
Very tragic!
One 'internet myth' after another spread, causing countless people to throw themselves into the great wave of the internet era.
"Mr. Page, in other words, the reason you're selling these stocks now is based on these analysis articles?" Female Reporter Mottafi said.
"Not entirely."
Kyle shook his head and said: "As many people probably know, before November last year, I had already sold all my shares in Yahoo, Cisco, Microsoft, and others before the NASDAQ even broke 3,000 points. I even sold millions of shares in Amazon, worth over $2 billion."
At this point, everyone present reacted.
They only had one concept in their minds.
That is, Kyle sold these shares far too early, missing out on at least $500 million in potential profit.
"It's just too easy for rich people to make money," a copywriter couldn't help but mutter.
In the subsequent interview process, Kyle answered several more questions in succession.
Of course, it was mainly centered around the stock market.
Words like avalanche, disaster, false prosperity, overheating, problems... and so on, constantly came out of Kyle's mouth.
As the interview reached this point, it was clear that Kyle held a pessimistic outlook on the current NASDAQ stock market... Later that evening.
The interview Kyle gave today was written up by Female Reporter Mottafi and published in a Bloomberg News report, and as a headline story at that.
[Kyle Page's View on Internet Stocks]
"This morning, I interviewed Mr. Kyle Page regarding Gale Capital's frequent selling of internet and technology stocks recently. Mr. Page believes..."
"Mr. Page explicitly told us that he will sell off all the billions of dollars worth of stocks held by Gale Capital in the near future."
"Regarding the nasdaq index, which continues to rise and break one historical peak after another, Mr. Page also believes this is not a good thing."
"He believes..."
As the World's largest financial news company and the World's largest financial terminal provider, Bloomberg News naturally received attention from all parties.
The former president of Gale Capital, Henry Eugenber, sneered: "Did you see the report? I said he's a guy who plays it safe. Facing a NASDAQ that's like a volcanic eruption, he's actually scared. The good boy is backing down!"
One of the heads of Goldman Sachs, John Kettaborges, was more rational.
He said: "Compared to the size of our Goldman Sachs, Gale Capital is indeed quite small. In my opinion, his decision makes him a relatively smart person. Well, let alone him, even I don't know when this rich and delicious cake of NASDAQ will collapse."
In short, Kyle couldn't afford to lose in a carnival feast like the NASDAQ, whereas large investment banks like Goldman Sachs wouldn't be severely damaged even if they lost once. But if they won... it would be a massive profit.
One year's profit would be worth several previous years!
Enormous interests, like a massive force, constantly pushed them forward, leaving them no choice but to continue regardless of their will.